Corporate Law In Thailand And The Us

The forthcoming piece examines the protocols regarding company formation in America and Thailand.

US law and the laws of Thailand are very different bodies of jurisprudence. However, there are some parallels in the field of corporate law. In this post we will briefly examine the rather minor dissimilarities between the two systems.

In the United States, one of the most popular vehicles for doing business is the limited liability company (also known as the LLC). This type of entity was created in order to provide a relatively easy means for individuals and groups to organize a company with limited liability at a relatively low cost and with relatively little in the way of supporting documentation compared to incorporated entities such as a "C Corp" or an "S Corp". That being said, an American LLC still requires upkeep as records must be kept up to date and the activities of the company must comport with the law of the jurisdiction in which it is incorporated. Therefore, many alien nationals decide to retain the advice of an American lawyer when setting up an LLC. Furthermore, a registered agent in the US may be required if the activities of the LLC occur primarily offshore.

In the Kingdom of Thailand, incorporating a company is, in some ways, not nearly as simple compared to the United States. The Kingdom of Thailand doesn't actually have legal provisions for any type of juristic person akin to the US LLC. Furthermore, limited liability is only granted under certain conditions and the conditions associated with such an endeavor are usually cumbersome. Another issue in Thailand is the Foreign Business Act. This legislation prohibits foreign companies from conducting certain types of business in Thailand. This can be a tremendous obstacle for those wishing to enter the Thai market. Fortunately, through use of Foreign Business Licenses, Amity Treaty Certification, and/or Board of Investment Certification a company in Thailand may be able to enjoy relative legal equality with its Thai counterparts. That said, Thai visas as well as employment authorization may still be necessary for the foreign employees of the company.

With regard to visas and work authorization both the US and Thailand have rigorous regulations regarding foreign labor. In the USA, certain visa categories such as the L-1 or H-1 may confer a restricted right to work in the USA depending upon the provisions of the visa itself. Those entering the USA as an Immigrant may be accorded unconditional permanent residence depending upon the category of the visa. In Thailand, the Immigration issues are seemingly more straightforward although the issue of work authorization can be far more complicated than the American rules regarding foreign work authorization. In either case, it is always prudent to consult with an attorney from the jurisdiction where one wishes to do business. This helps ensure that the proper steps are taken at the outset of the company incorporation process.

by: Ben Hart

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